iPhone 5 sales dropping?

An analyst said that iPhone 5 sales have been cut as Apple preps for the iPhone 5S

Jefferies analyst Peter Misek said that Apple's iPhone 5 sales are "decelerating faster than expected" and that the company has lowered its iPhone 5 orders as it prepares for the next one.

This isn't the first time we've heard that Apple is cutting iPhone 5 orders, as reports in January also said that Apple was going to order less of its flagship handset. The company did report record sales and revenues after the holiday quarter, selling 47.8 million iPhones over a three-month period.

Apple's CEO Tim Cook addressed some of the order rumors during the company's quarterly conference call and said that taking single data pointsn and assuming larger trends is a mistake. The way I understood this means that Apple could have ordered fewer iPhone 5 parts but that could be because it managed to be more efficient with the parts it ordered.

Apple is still doing pretty well, as it still captures the most profits of any company in the mobile space but there are legitimate questions about the success of the iPhone 5. It's definitely doing well but it may not be doing as well as Apple expected.

For example, Verizon sold 6.2 million iPhones in the last quarter it reported and half of those were iPhone 5 units. That also means that half were older models, which don't provide as much profits for Apple as the newer models.

Still, this is a good "problem" to have, as companies like LG, HTC and BlackBerry would love to have record sales and profits like Apple is seeing.